 "US hiring solid but wages cool, giving Fed room to slow rate hikes")
The US labour market stayed strong last month and wage gains cooled, boosting hopes the economy will dodge a recession and giving the Federal Reserve room to slow interest-rate hikes.
Non-farm payrolls increased 223,000 in December, capping a near-record year for job growth, a Labor Department report showed on Friday.
The advance followed a 256,000 gain in November.
Average hourly earnings rose 0.3 per cent from a month earlier and 4.6 per cent from December 2021 after November’s previously eye-popping gain was revised lower. The deceleration is likely welcome news for Fed officials, who see wage pressures, particularly in the service sector, as a key hurdle to achieving their 2 per cent inflation goal.
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